The North Carolina Securities
Act, Chapter 78A, shall also apply, in addition to the laws relating to real
estate, to time shares deemed to be investment contracts or to other securities
offered with or incident to a time share; provided, in the event of such
applicability of the North Carolina Securities Act, any offer or sale of time
shares registered under this Article shall not be subject to the provisions of
G.S. 78A-24 and any real estate broker registered under Article 1 of this
Chapter shall not be subject to the provisions of G.S. 78A-36. (1983, c. 814, s. 1.; 2000-140,
s. 19(b); 2005-395, s. 21.)